NCUI officials led by its Chief Executive Dr Dinesh posed before camera happily after ensuring an income of Rs 5 lakh per month for the apex body from the PSU State Bank of India. The event was signing of MoU between the two at the apex body headquarters in Delhi.
SBI has taken on lease a floor area of 200 square feet from NCUI on the ground floor. We intend to open a branch here given its posh location, said Chief Manager of SBI Shiv Singh Rawat who signed MoU on behalf of SBI while Dr Dinesh signed on behalf of NCUI.
Dr Dinesh profusely thanked DDA for removing the roadblock and enabling NCUI to go ahead with its plan of subletting unused space. An entire floor is being let out to Warehousing Regulatory Board (WDRA) and talks are in advanced stage, informed NCUI officials present on the occasion.
We may be getting somewhat less return on our properties but we still prefer only government bodies as these saves us from lots of hassles, said Dinesh. Speaking on behalf of SBI Rawat said buying space from NCUI also helps us skirt the process of tendering and other circuitous procedures involved.
“We talked and stuck a bargain and here we are singing MoU”, Rawat added underlining the swiftness when it is an agreement between govt bodies.
Finance Director of NCUI, N Satyanarayan, however said that what we have bargained from SBI is not below market rate. Quoting prevailing market rate of the area he justified Rs 5 lakh for 2000 sq feet.
Chief Executive Dr Dinesh said besides the rent we also look forward to SBI involving NCUI in its CSR activities. There cannot be any MoU on this but we have held informal discussions and they have agreed in principle. “It is a win win situation for both of us”, he averred.